Russian movies slip in local market-share

The popularity of Russian movies is steadily declining, according to results of a recent survey, conducted by film business analyst Movie Research.

During the first six months of this year, the overall box office in Russian cinemas increased by 29%, to $500m (15.75 billion rubles), compared to the same period of last year. However the market share of domestic hits has declined from 31% to 20%.

Among the current leaders of the Russian market are Avatar followed by Shrek Forever After and Alice in Wonderland, which had takings of over $40m.

The interest for 3D-movies in Russia, such as Clash of the Titans and How To Train Your Dragon is also increasing. Both movies occupied fourth and fifth position respectively. However, Russians aren’t producing 3D films of their own currently.

The poor results shown by Russian films in the first half of the year, prompted concerns in the local public over the future of the Russian movie industry at home and abroad.

At the same time, local experts predict further decline of the box-office of Russian films, which aren’t likely to exceed $200m (6 billion rubles) by the end of the current year.

Overall, the growth of total box office in Russia this year is expected to reach 25%, and will for the first time exceed $1 billion, while the share of Russian movies will decline to about 19.4%, compared to 22.4% in 2009.

For example, one potential Russian blockbuster — Nikita Mikhalkov’s Cannes competitor Burnt by the Sun 2 has not met expectations.

Analysts noted that Russia would be better to produce fewer, better films. According to them, the revenue of the Russian movies is declining, although the volume of investments in their production is steadily increasing.